Former Citigroup (C) oil trader Andrew Hall, who last year became a symbol of excessive Wall Street compensation by reportedly earning a bonus package of up to $100 million even after Citi had accepted TARP funds to support itself, filed with the SEC Monday that he had raised $1.08 billion for a new Westport, Connecticut-based hedge fund, named ‘The Astenbeck Offshore Commodities Fund.’
The fund said that it has 37 investors and that The Park Hill Group, a division of The Blackstone Group (BX), which recruits investors for hedge funds and buyout firms, will receive commissions for finding new investors for the Astenbeck Offshore fund, according to the filing.
Mr. Hall was the head of Citigroup’s Phibro LLC energy trading business, which Occidental Petroleum (OXY) bought from Citi last October for $250 million.
Disclaimer: This page contains affiliate links. If you choose to make a purchase after clicking a link, we may receive a commission at no additional cost to you. Thank you for your support!
Leave a Reply